A mixed day here in Asia with some stock markets following Wall Street down, some advancing particularly in China and its Australian satellite. Currency markets are equally quiet with gold almost unchanged with the major investment houses still wracking their brains over what to do with Chinese GDP expectations in the wake of the coronavirus
By Chris Becker Risk markets continue to be rattled by fear over the coronavirus with the big jump in Chinese cases sending Wall Street send slightly overnight which should provide a minor headwind to end the risk taking here in Asia going into the weekend. Euro continued its post Brexit plunge with a near three
A spike in new cases of coronavirus shook markets up a bit here in Asia today depsite the good run on Wall Street overnight. Gold and other safe havens have lifted, with Bitcoin accelerating after its recent breach above the $10K mark. The Shanghai Composite is down the most, off by 0.6% after the long
The return of Japanese traders and a still upbeat Wall Street saw most Asian stock markets advance, with the major macro event being the RBNZ holding their cash rate and the New Hampshire primary in the USA. Gold is slipping while Bitcoin breached $10K again, with Yen buying moderating and helping buoy the re-opening of
It’s all engines ahead for risk as Chinese shares breakout, pushed along by a higher Aussie dollar and lower Yen as risk appetite comes back again here in Asia. Other safe havens like gold and Bitcoin are slipping while Japanese markets are closed for yet another holiday. The Shanghai Composite is up 0.5% after the
By Chris Becker Risk markets are oscillating between hope and fear with a swing to the former overnight on Wall Street overshadowing the fear in Asia yesterday. Commodities and undollar assets continued to fall however, with oil falling 2% to a new weekly low with only gold holding fast. Looking at Asian share markets performance
Risk markets are slipping again, with Asia reacting to the falls on Wall Street from Friday night in a similar direction and magnitude. Fear about the economic impact of the coronavirus continues to spread with safe havens like Yen, gold and even Bitcoin – now above $10,000USD – pulling risk assets down in the main.
By Chris Becker Risk sentiment continues to be all over the place with Wall Street falling on Friday night, despite a strong US jobs report that saw over 225K jobs added in January, although of course average earnings remain anemic. The market responded with a higher USD, lower bond yields as the 10 year Treasury
Asian share markets have moderated their recent gains with gold and Bitcoin the only undollar assets to advance. Moody’s and Fitch spoiled the party with a negative reaction to the Aussie economy, particularly the banks on the coronavirus impact as Chinese authorities try to damp down the growing outrage surrounding the government’s response to the
By Chris Becker Risk sentiment is now back to its pre-coronavirus levels, with Wall Street putting in new record highs and USD strengthening against almost everything, paving the way for further optimism. Notably, gold and Bitcoin are coming back too with the latter almost breaching the $10,000 level. Treasury yields remain slightly elevated as the
Its risk on across Asia as stock markets gather pace with big moves higher across the board, as undollar assets and safe havens are sold off. The bounce in oil prices is seeing commodity currencies like the Aussie dollar lift slightly, while gold is just holding to daily support as all risk goes into stocks
By Chris Becker Risk sentiment is improving everywhere with European and US stocks lifting strongly overnight, helped along by a very firm services ISM release in the US that smacked down all undollar assets. Oil prices finally lifted off the mat in the wake of probable OPEC production cuts due to the coronavirus, as other
Another sea of green across Asian stock market boards today, although Chinese stocks were much higher earlier in the session. Gold came back slightly after its big drop overnight even as USD strengthens against almost everything with offshore trading in Yuan seeing more weakness. The Shanghai Composite has given up some mid session gains but
By Chris Becker European and US stocks took the positive Asian lead overnight with broad gains as the Chinese central bank pumped liquidity into the system to stave off the near 10% falls in Chinese stocks in the wake of the coronavirus. US factory order numbers also helped, with commodities finally lifting, and safe havens
A much better day for share markets here in Asia with a minor rebound following yesterday’s big selloff across the region. The RBA meeting resulted in a hold and small blip higher for the depressed Australian dollar, while Yen continued to selloff giving domestic Japanese stocks a lift. The Shanghai Composite stabilised a little, lifting
By Chris Becker Wall Street moderated its falls from Friday night as the latest ISM manufacturing print surprised to the upside, with bond yields lifting. Commodities however remain depressed with oil prices heading lower once more, alongside industrial metals and even gold, which had seem some benefit recently from the safe haven trade. Currency markets
A bath of share price blood here in Asia today with a big selloff across the region following Wall Street’s falls on Friday. The typical safe havens like Yen and gold have not spiked, given they made most of their gains previously, while oil prices have gained slightly from their overshoot. The Shanghai Composite finally
By Chris Becker Volatility is spiking again with Wall Street selling off sharply on Friday night and casting a dour start to trading here in Asia this week as Chinese traders return to their desks. Stocks fell nearly 2% while the usual safe havens were bid higher, namely Yen, gold and Treasuries as the USD
Asian stocks have found some resilience going into the end of the week after the late rally on Wall Street overnight saw a moderation of fear that has encapsulated markets over the Chinese coronavirus. Yen and gold buying has moderated while trading in offshore Yuan has also tempered slightly. Oil prices are likely to fall
By Chris Becker Wall Street staged a last minute rally to stave off the wide falls on European markets as the 4Q GDP print came in strong but also just as the WHO marked a global emergency for the Chinese coronavirus. Pound Sterling jumped as the BOE held fire on interest rate cuts while Bitcoin
Asian stocks have moved steadfastly into sell mode because of a lack of confidence on Wall Street overnight as economic fears surrounding the Chinese coronavirus continue to spread. A run on safe havens like Yen and gold while a big selloff in offshore Yuan is pushing stock markets into the red as yields drop on
By Chris Becker Nothing major happened overnight – apart from the UK leaving the EU and the latest Federal Reserve meeting. While no news on the Chinese coronavirus was translated into good news, risk markets couldn’t hold on to recent meagre gains with stocks putting in scratch sessions on both sides of the Atlantic. Bitcoin
Asian stocks were mixed despite a rebound on Wall Street overnight as economic fears surrounding the Chinese coronavirus have not eased, despite some better than expected US numbers. Currency markets are still relatively tight with the USD advancing against most except the Aussie which has blipped higher in anticipation of the upcoming Fed meeting. Bitcoin
By Chris Becker Hope returned to stock markets overnight as US economic data beat expectations. Wall Street rallied over 1% higher with the usual safe haven assets falling in response, although Bitcoin did surge above the $9000 mark. Oil prices came back a little after being whallopped, while the USD lost ground against most of
Asia stocks continue to drop as economic fears surrounding the Chinese coronavirus continue to mount alongside the growing number of official cases. Forex markets are relatively tight with the Kiwi dropping slightly on the announcement of a new election, while Bitcoin is fast approaching the $9000 mark: Japanese share markets were relatively stable alongside Yen
By Chris Becker Fear is the quick path to selling as the risk complex is increasingly worried about the Chinese virus, as extremely overextended stock markets unsurprisingly fall. European bourses fell nearly 3% overnight while Wall Street slid about half that as ASX futures indicating a near 2% drop on the open after the long
Asia is having a mixed to positive day to finish the trading week with concerns over the coronavirus contagion subdued, leading to tight ranges on forex and stock markets. The Yuan sold off again offshore going into the Lunar New Year holiday week as Chinese stock markets were closed today. Japanese share markets were stable
By Chris Becker The risk complex is getting increasingly concerned about the Chinese virus, but in reality anything could send the bubble popping, with stock markets in particular still extremely overextended. European bourses fell shortly after the rout here in Asia yesterday, while Wall Street held on and made only scratch sessions as safe haven
Fear is starting to spread among the bubblish risk markets across Asia with the Chinese virus contagion sending stocks sharply lower ahead of the Lunar New Year holiday. Chinese stocks are leading the selloffs, with the Shanghai Composite falling nearly 3% this afternoon, currently below the long held 3000 point barrier, while the Hang Seng
By Chris Becker European markets fell overnight as Wall Street barely eked out a scratch session, while the bond market and USD went nowhere in a hesitant fashion across the risk complex. The Canadian Loonie fell smartly on the release of the soft CPI data while Pound Sterling lifted on a spike in UK business
